News

At the recent AICPA Fall Council meeting, Mark Peterson, Executive Vice President - Advocacy, energized attendees with a comprehensive update on the current legislative, regulatory, and political landscape.

Governor Ned Lamont today announced that he has received notification from the Federal Emergency Management Agency (FEMA) informing him that the major disaster declaration President Joe Biden approved for Fairfield County, Litchfield County, and New Haven County as a result of the historic rainfall and extreme flooding that region of Connecticut received on August 18, 2024, has been amended to include the governor’s request for FEMA’s Public Assistance Program.

Medicaid, retirement benefits, drive nearly $400 million in projected cost overruns.

The Connecticut Foundation Solutions Indemnity Company (CFSIC) – the captive insurance company set up to provide financial assistance to homeowners whose foundations have crumbled because of the mineral “pyrrhotite” within the concrete – has reached a milestone.

Connecticut companies will soon have an added incentive to offer student loan repayment benefits to employees.

Boston homeowners face a 28% surge in their tax bills if the Massachusetts legislature fails to sign off on a proposal to temporarily raise commercial rates before the end of next month, Mayor Michelle Wu said.

Governor Ned Lamont today announced that the Federal Emergency Management Agency (FEMA) is making a schedule change to Connecticut’s two recently opened Disaster Recovery Centers (DRCs) that have been providing in-person support with applying for federal disaster assistance to those impacted by the August 18, 2024, severe storm and flooding.

Conservative think-tanks say CT’s children could be spared billions in legacy debt.

A raft of changes to how Connecticut law protects sensitive medical information, minors from online threats, and misuse of social media lead a group of dozens of new laws that take effect today.

Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.

Nearly 60 new Connecticut laws will take effect on Oct. 1, including legislation concerning line-of-duty deaths, home care worker protections and police body cameras.

Governor Ned Lamont today announced that beginning on January 1, 2025, Connecticut’s minimum wage will increase from the current rate of $15.69 per hour to $16.35 per hour.

Connecticut’s pension funds performed better than expected in the most recent fiscal year, showing double-digit returns even as the state continues to play catch-up with its massive unfunded pension liabilities.

Businesses, developers say guardrails are important, but varied state laws create confusion.

Governor Ned Lamont today announced that the U.S. Small Business Administration (SBA) has opened two Business Recovery Centers in Monroe and Oxford that are now providing in-person assistance to businesses seeking to apply for federal disaster aid for damages incurred due to the severe flooding the western portion of Connecticut experienced on August 18, 2024.

Governor Ned Lamont today announced that President Joe Biden has approved his request for a major disaster declaration due to the historic rainfall and extreme flooding that impacted towns and cities in western Connecticut on August 18, 2024.

This publication has been updated to address the guidance issued by the Internal Revenue Service (IRS) relative to the victims of severe storms and flooding in Connecticut and New York. In recognition of the recent IRS guidance, the Commissioner of Revenue Services will exercise the authority provided him under Conn. Gen. Stat.§ 12-2(a)(5) on a case-by-case basis and the Department of Revenue Services (DRS) will consider requests for relief from penalty and interest that would otherwise accrue on late filings and payments after September 30, 2024.

Businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options.

CTData Collective and the state Department of Health have teamed up to launch a new online tool that will provide “groundbreaking” population data, migration patterns, and housing information down to the town level.

After a period of initial data collection and review as required by the Federal Emergency Management Agency (FEMA) and the U.S. Small Business Administration (SBA), Governor Ned Lamont today submitted a formal request to President Joe Biden seeking a major disaster declaration due to the historic rainfall and extreme flooding that impacted communities in Fairfield County, Litchfield County, and New Haven County on August 18, 2024.